EquityPandit’s Outlook for Wipro for the week  (Feb 4, 2019 – Feb 8, 2019) : 

WIPRO:

Wipro closed the week on positive note gaining around 5.40%.

As we have mentioned last week, that resistance for the stock lies in the zone of 350 to 355 where Fibonacci extension is lying. If the stock manages to close above these levels then the stock can move to the levels of 365 to 370. During the week the stock manages to hit a high of 372 and close the week around the levels of 371.

Support for the stock lies in the zone of 360 to 365 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 350 to 355 where Fibonacci levels are lying.

Resistance for the stock lies in the zone of 370 to 375 where Fibonacci extension is lying. If the stock manages to close above these levels then the stock can move to the levels of 385 to 390.

Broad range for the stock in the coming week is seen between 350 to 355 on downside & 385 to 390 on upside.